Toro Company (The) (NYSE:TTC) Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Toro Company (NYSE:TTC) by 1.6%, owning approximately 10.51% of the company, valued at $763 million.
• Toro reported quarterly earnings of $1.42 per share, exceeding analyst expectations, but experienced a 2.3% decline in revenue compared to the previous year.
• The stock currently holds a consensus rating of "Hold" among analysts, with a revised average target price of $82.75.

Vanguard Group Inc. grew its position in Toro Company (The) (NYSE:TTC - Free Report) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,495,037 shares of the company's stock after buying an additional 169,865 shares during the quarter. Vanguard Group Inc. owned 10.51% of Toro worth $763,514,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TTC. Captrust Financial Advisors increased its position in Toro by 33.8% during the 4th quarter. Captrust Financial Advisors now owns 52,934 shares of the company's stock valued at $4,240,000 after buying an additional 13,373 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Toro by 7.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 535,787 shares of the company's stock valued at $38,882,000 after buying an additional 37,405 shares in the last quarter. M&T Bank Corp increased its position in Toro by 11.2% during the 1st quarter. M&T Bank Corp now owns 10,915 shares of the company's stock valued at $794,000 after buying an additional 1,098 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Toro by 87.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company's stock valued at $3,306,000 after buying an additional 21,214 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Toro by 1.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock valued at $1,033,000 after buying an additional 173 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction of $425,940.00. Following the completion of the transaction, the vice president owned 11,646 shares of the company's stock, valued at $826,749.54. This represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total value of $356,740.78. Following the transaction, the director directly owned 34,062 shares of the company's stock, valued at $2,411,930.22. The trade was a 12.88% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Robert W. Baird upped their target price on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Northland Securities reissued a "market perform" rating and issued a $80.00 price objective (down from $100.00) on shares of Toro in a report on Friday, June 6th. Raymond James Financial cut their price objective on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, DA Davidson set a $76.00 target price on Toro and gave the stock a "neutral" rating in a research note on Monday, June 9th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $82.75.

Toro Price Performance

TTC stock traded down $1.12 during mid-day trading on Friday, reaching $76.91. 862,022 shares of the company's stock were exchanged, compared to its average volume of 646,846. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 19.72 and a beta of 0.80. The stock's 50 day moving average is $73.08 and its 200 day moving average is $73.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. Toro Company has a 12-month low of $62.34 and a 12-month high of $93.00.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. Toro's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.40 earnings per share. On average, research analysts expect that Toro Company will post 4.41 EPS for the current year.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.0%. Toro's dividend payout ratio is presently 38.97%.

Toro Company Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.